Bank Nifty
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Bank Nifty prediction today – May 13, 2024: Index slips below a base, consider shorts
Bank Nifty, which depreciated 3.1 per cent last week, seems to carry over the bearish sentiment this week, too. Today’s session opened with a gap-down at 47,390 versus Friday’s close of 47,421.
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Sensex, Nifty open higher; Bajaj Finance surges over 6%
Domestic benchmark indices open higher on Friday’s trade. BSE Sensex trader at 75,066.38, higher by 455.27 pts or 0.61 per cent as of 9.27 am; and Nifty 50 traded at 22,782.05, up 133.85 pts or 0.59 per cent.
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Reading the markets through volatility index
Volatility index or India VIX last week captured traders’ attention when it plunged nearly 20 per cent during intra-day on April 23, to 9.8, even as the process of General Elections to the Lok Sabha just began. However, the index bounced back a little and is currently ruling around 11. The sudden fall caught a lot of traders, who indulge in strategic option strategies such as strangle and straddle, off-guard as the premium dipped sharply. This also signalled that traders are more complacent.
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F&O Tracker: Bounce-back prospects emerge in indices
Nifty 50 (22,147) and Bank Nifty (47,574) lost 1.7 per cent and 2 per cent respectively last week. Consequently, the futures contract of these indices too fell. Below is an analysis of futures and options data and projection for this week.